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Canadian Money Brief: 5 Things to Know Today — May 18, 2026

  A quick scan of the five stories shaping your wallet right now — from the Bank of Canada's next big decision to your mortgage renewal and a brand-new federal agency hunting financial criminals. 1 Bank of Canada Rate Holds at 2.25% — Next Decision Is June 10 The Bank of Canada kept its overnight policy rate steady at 2.25% at its April 29 meeting, citing a rise in energy-driven inflation and ongoing uncertainty from U.S. tariffs. Governing Council held firm while acknowledging a rate hike could become necessary if oil-linked price pressures prove persistent. The next announcement lands on Wednesday, June 10, 2026 — mark your calendar. Why it matters: Your variable-rate mortgage, HELOC, and lines of credit are directly tied to this rate. With bank prime rates sitting at 4.45%, every meeting counts. 2 Markets TSX Slips Below 34,000 as Bond Yields Spike The S&P/TSX Composite Index finished last week down close to 2%, sliding under the 34,000 mark. A global bond market selloff...
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Tourist Resorts in Indian-Controlled Kashmir Temporarily Closed Amid Rising Tensions

 

Authorities in Indian-controlled Kashmir have temporarily shut down 48 of the 87 government-authorized tourist resorts in the scenic Himalayan region. This decision follows a deadly attack near the resort town of Pahalgam, where gunmen killed 26 people, most of them Indian tourists.

The attack has heightened tensions between India and Pakistan, leading to diplomatic measures such as visa cancellations, the recall of diplomats, and the suspension of a crucial water-sharing treaty. Pakistan has denied involvement in the attack, which was claimed by a previously unknown militant group.

The closures are a precautionary safety measure, but they have disrupted tourism in the region, which had been flourishing in recent years. Millions of visitors travel to Kashmir annually to experience its natural beauty, despite ongoing skirmishes between insurgents and government forces.

The situation remains tense, with cross-border firing reported along the Line of Control and increased security measures in place.

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